The state-owned company, NMDC has plotted an ambitious plan to raise Iron ore production to 50 MnT in FY19 and 100 MnT in FY25. In the current fiscal year, the company has decided to surge the production by 10% to 32-33 MnT. During FY14, it had produced 30 MnT – the highest so far.
Company’s Chairman and Managing Director, Mr. Narendra Kothari urged, “We have an expectation of at least 32 MnT this year, though our intention is to produce more. In the next two fiscal years, we are planning to produce 36-37 MnT pa. And, in FY19, we aim to produce 50 MnT and to touch 100 MnT till FY25. ”
In addition, he said, the company is also planning to raise production by around 10.5 MnT at its two mines namely Donimalai and Kumaraswamy in Karnataka this fiscal year. In FY14, it has produced 9 MnT in Karnataka.
Mr. Kothari also quoted, “The SC has allowed us to produce 12 MnT pa in Karnataka. We have resolved the earlier issues such as mechanization. In FY15, we have decided to produce around 12 MnT in Karnataka.”
Company with its own resources was constantly exploring new mines in many states including Karnataka. He added, “Unless we explore new mines, we can’t extend the life of our mines. We were to close our mines in Karnataka five years ago, but new mines helped us to continue.”
NMDC would invest INR 35 billion on diversification. The company is setting up a 3 MnT pa steel plant in Nagarnar (Chhattisgarh), which will be operational by FY17. A new Pellet plant at Donimalai in Karnataka, which has a capacity of 1 MnT will be commissioned in the current fiscal year, Mr. Kothari added.